Basepoint Wealth LLC Increases Stock Position in Target Corporation $TGT

Basepoint Wealth LLC lifted its position in shares of Target Corporation (NYSE:TGT) by 528.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,993 shares of the retailer’s stock after purchasing an additional 4,198 shares during the period. Basepoint Wealth LLC’s holdings in Target were worth $605,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. WFA of San Diego LLC acquired a new position in Target in the second quarter valued at $25,000. Jessup Wealth Management Inc acquired a new stake in Target during the fourth quarter worth about $25,000. Altshuler Shaham Ltd acquired a new stake in Target during the fourth quarter worth about $26,000. Eagle Bay Advisors LLC purchased a new position in shares of Target in the 4th quarter worth about $30,000. Finally, MidFirst Bank purchased a new position in shares of Target in the 4th quarter worth about $31,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT opened at $139.93 on Monday. The business’s 50 day moving average is $129.35 and its two-hundred day moving average is $120.58. Target Corporation has a 52-week low of $83.44 and a 52-week high of $144.40. The firm has a market cap of $63.55 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.73 and a beta of 0.98. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The business had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Analysts forecast that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.3%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is 60.24%.

Insider Buying and Selling at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the sale, the insider owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TGT shares. Zacks Research raised Target from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a research report on Monday, June 15th. Guggenheim raised their price target on shares of Target from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, June 12th. Jefferies Financial Group lifted their price target on shares of Target from $140.00 to $161.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Target from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $131.96.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.